Collaboration Nation: Peter Pilotto is Target's Next Name

Pilotto, left, and De Vos at their London Fashion Week show on Monday.

Hot news from London Fashion Week: The stylish yet affordable mega retailer, known for its high-fashion design partnerships, announced plans for a capsule collection with the "it" British designer.

Target has previously partnered with Missoni, PrabalGurung, PhillipLim and A-list red carpet stylist KateYoung (whose clients include Michelle Williams and Rachel Weisz) on special clothing and accessory collections. Up next? The mega retailer just revealed plans for a limited-edition February '14 line by hot British label Peter Pilotto, which just showed its spring 2014 collection during London Fashion Week. Spring clothing, accessories and swimwear — no doubt in Pilotto's bold and colorful graphic prints — will retail for under $60, a far cry from the label's runway dresses which cost $1,500 to $2,000 on average.

Additionally, Target will offer the 70 or so limited-edition items on Target.com and a very special edited selection online at luxury shopping site Net-A-Porter.com.

“By working with Target, we’re able to broaden our reach and bring our design aesthetic to an entirely new audience,” said Pilotto in a statement. “This is a pivotal moment for our brand. Our collection for Target embodies the elegance and spirit of our own line, but makes it accessible to everyone,” added Pilotto’s design partner Christopher De Vos, who met Pilotto when they were classmates at Antwerp's Royal Academy Of Fine Arts in Belgium. The label received the prestigious Fashion Forward Award by the British Fashion Council in 2011. Peter Pilotto is sold at more than 220 retailers worldwide and counts Kristen Stewart, Emma Watson and Kerry Washington as fans of the brand.

“Peter and Christopher have a rare talent for capturing the essence and energy of London in a way that’s completely universal in its appeal,” added Trish Adams, Target's senior vice president of apparel and accessories. “This collaboration allows our guests to brighten their look at truly remarkable prices this spring."

For more information follow the hashtag #PeterPilottoforTarget or visit Target’s website.